EUR/USD currency pair analysis

The EURUSD pair rebounded to the upside in an attempt to correct the bearish path and reached the resistance level 1.0475, to return to the bearish movement, affected by the negativity of the stochastic indicator, which forms a bearish crossover in the overbought area. Trading remains below the resistance level 1.0475.

In general, we will continue to suggest the bearish trend for the upcoming period, unless the price rushes to breach 1.0550 and stabilize above it.

The expected trading range for today is between support 1.0370 and resistance 1.0510

Support: 1.0400—1.0340.

Resistance: 1.0475—1.0500—1.0550.

The forecast general trend for today: bearish.

Author: GC
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